4 ms·

Looks like ~60% loss to me. (From $1.1B net in 2015 to $572M net in 2019) https://money.cnn.com/quote/financials/financials.html?symb=MZDAF https://money.cnn.c

• kenhwang 7y ago
  From what I can tell from the investor docs, the overall loss was from exchange rates and tariffs from losing access to sharing Ford's factories and costs and the high capex to building a replacement factory and generally transitioning to a fully independent automaker. Every shareholder report in the last couple years stated that their premium offerings are doing better than they expected and they're making more money than they expected given the capex.
  • woobar 7y ago
    JPY/USD rate changed 9% over the last 5 years, are you sure it explains 70% lower net income? You stated that they make 60% more money. If the point you are trying to make is that they make 60% more than they expected, I won't argue with you.
    • kenhwang 7y ago
      Mass market automakers usually target ~7% margin, so a 9% change in exchange rate without adjustment in price would make an automaker flip from profitable to unprofitable (observable with Nissan as a real world example). It doesn't decrease their profit by 9%. Mazda raised their margin target to ~10% per vehicle, which is pretty standard for the premium segment. Which if they performed to expectations, would mean 40% more profit; they're slightly overperforming at ~60%.